EquityPandit’s Outlook for HCL Tech for the week (Feb 18, 2019 – Feb 22, 2019) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 1.00%.

As we have mentioned last week, that support for the stock lies in the zone of 1050 to 1060 where break out levels and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1025 to 1035 where Fibonacci levels are lying. During the week the stock manages to hit a low of 1041 and close the week around the levels of 1057.

Support for the stock lies in the zone of 1050 to 1060 where break out levels and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1020 to 1030 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1075 to 1085 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1100 to 1120 where the stock has formed a high in the month of September-2018.

Broad range for the stock in the coming week is seen between 1020 to 1040 on downside & 1100 to 1120 on upside.